The present study relates subject-paced rapid information processing to different components of event-related brain potentials in an attempt to gain more information about changes in mental performance in relation to alveolar smoke absorption as assessed by expired air CO measurement. The task consisted in the presentation of pseudorandom sequences of single digits, and the subjects had to respond to each sequence of three odd or three even digits. The triplets evoked a typical late negativity in the event-related potential between the second and third digit as well as a P300 component following the third digit. In 21 smokers, task performance, event-related potentials and tidal air CO concentration were measured before and after smoking a cigarette. The results revealed increases in performance and P300 magnitude from pre- to postsmoking which were unaffected by the amount of CO absorption. A differential trend was seen, however, with the late negativity, which increased from pre- to postsmoking only in subjects with a large amount of CO absorption. The results support the assumption of the distraction arousal model used as an interpretation of these effects on contingent negative variation and suggest that high CO absorbing smokers possibly depend more on neuropharmacological effects of smoking than smokers with a low amount of CO absorption.